Can I retire at age 66 with 708,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$58,466$57,945$57,437$56,941$56,457$54,693
2 years$28,944$28,405$27,882$27,376$26,884$25,123
3 years$19,104$18,563$18,042$17,540$17,056$15,353
4 years$14,185$13,646$13,130$12,636$12,165$10,532
5 years$11,235$10,698$10,189$9,706$9,248$7,690
6 years$9,268$8,736$8,234$7,762$7,317$5,837
7 years$7,864$7,336$6,843$6,382$5,951$4,547
8 years$6,812$6,289$5,803$5,353$4,937$3,608
9 years$5,994$5,475$4,998$4,560$4,158$2,903
10 years$5,339$4,826$4,358$3,931$3,542$2,360
11 years$4,805$4,297$3,836$3,421$3,047$1,934
12 years$4,359$3,856$3,405$3,001$2,640$1,595
13 years$3,983$3,485$3,042$2,649$2,302$1,323
14 years$3,660$3,168$2,733$2,351$2,018$1,101
15 years$3,381$2,894$2,468$2,097$1,777$920
16 years$3,137$2,655$2,237$1,878$1,570$770
17 years$2,922$2,445$2,036$1,687$1,392$647
18 years$2,730$2,259$1,858$1,520$1,238$544
19 years$2,560$2,094$1,701$1,374$1,104$458
20 years$2,406$1,946$1,561$1,244$986$387
21 years$2,268$1,813$1,436$1,129$882$327
22 years$2,142$1,692$1,324$1,027$791$276
23 years$2,027$1,582$1,222$935$710$234
24 years$1,922$1,483$1,130$853$638$198
25 years$1,825$1,391$1,047$779$574$167
26 years$1,736$1,308$971$712$517$142
27 years$1,654$1,231$902$652$466$120
28 years$1,578$1,160$838$597$421$102
29 years$1,507$1,094$780$548$380$87
30 years$1,441$1,033$727$503$343$73
31 years$1,380$977$677$462$310$62
32 years$1,322$924$632$424$281$53
33 years$1,268$875$590$390$254$45
34 years$1,217$829$551$359$230$38
35 years$1,169$787$515$330$208$32
36 years$1,124$747$482$304$189$27
37 years$1,082$709$451$280$171$23
38 years$1,042$674$423$258$155$20
39 years$1,004$641$396$238$141$17
40 years$968$610$371$220$128$14
41 years$934$580$348$203$116$12
42 years$901$553$326$187$105$10
43 years$871$527$306$173$95$9
44 years$841$502$288$160$87$7
45 years$813$479$270$147$79$6
46 years$787$457$254$136$71$5
47 years$761$436$238$126$65$5
48 years$737$416$224$116$59$4
49 years$714$397$210$107$53$3
50 years$691$380$198$99$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $708,000, adding $2,692 every year, while hoping to spend $20,745 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 68/6/26 Blend
65$708,000$708,000$708,000$708,000
66$782,993$745,469$734,495$830,804
67$840,786$759,924$737,028$877,716
68$903,778$774,393$738,950$926,403
69$972,478$788,853$740,220$979,194
70$1,047,446$803,282$740,793$1,036,494
71$1,129,298$817,655$740,622$1,098,751
72$1,218,711$831,945$739,658$1,166,458
73$1,316,433$846,124$737,849$1,240,159
74$1,423,285$860,159$735,143$1,320,453
75$1,540,172$874,019$731,482$1,408,002
76$1,668,090$887,666$726,807$1,503,534
77$1,808,137$901,064$721,057$1,607,852
78$1,961,520$914,169$714,166$1,721,841
79$2,129,570$926,939$706,066$1,846,478
80$2,313,753$939,326$696,686$1,982,838
81$2,515,682$951,279$685,951$2,132,107
82$2,737,135$962,744$673,783$2,295,594
83$2,980,068$973,664$660,100$2,474,739
84$3,246,639$983,978$644,817$2,671,131
85$3,539,222$993,618$627,844$2,886,522
86$3,860,433$1,002,516$609,088$3,122,844
87$4,213,154$1,010,597$588,449$3,382,223
88$4,600,560$1,017,780$565,827$3,667,008
89$5,026,148$1,023,982$541,113$3,979,784
90$5,493,771$1,029,113$514,195$4,323,403
91$6,007,672$1,033,076$484,957$4,701,007
92$6,572,527$1,035,769$453,276$5,116,062
93$7,193,488$1,037,085$419,024$5,572,387
94$7,876,229$1,036,908$382,067$6,074,190
95$8,627,004$1,035,116$342,266$6,626,113
96$9,452,701$1,031,579$299,474$7,233,270
97$10,360,910$1,026,160$253,540$7,901,300
98$11,359,993$1,018,712$204,304$8,636,417
99$12,459,164$1,009,081$151,600$9,445,471
100$13,668,575$997,102$95,255$10,336,013